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Europe's Labor Problem

Updated March 31, 2000 1:50 a.m. ET

By Warwick Lightfoot. Mr. Lightfoot is an economist and was special adviser to the British chancellor of the exchequer from 1989 to 1992.

E urope's political leaders now appear to understand that, in terms of delivering economic goods, America is well ahead of their economies, so they want to create conditions for similar growth and wealth creation. If the EU Lisbon summit is anything to go by, they've also understood the contribution that technology can make to economic growth. Hence their determination to encourage innovation,...